All Forum Posts by: Erik Schneider

@Frank H

1. Depends on what you’re looking for really? Cash flow or appreciation? I’d look around revitalization and areas that are being rebuilt like the arts district in Las Vegas or around water street in Henderson for a good deal.

2. Second loans typically aren’t hard to achieve if you have solid credit and income. Most mortgage brokers can hook you up.

-Erik

@Phillip Dwyer

Hey Phillip, I got both in 89015 area one for 260 and one for 290k both @ 20% down. Both rented fast for good deals. Ideally I’d like to get my initial investments back but only time will tell where the market goes from here!

@Bao Do

As a resident of Henderson, I can honestly say that acquiring single families out here and being cash flow positive is not hard. I have done it twice so far and both off MLS. The key is to buy right and have at least 20% to put down. Both mortgages are around 1300 but the rental rates in the area are at about 1850 currently.

Keep shopping around and I’m sure you’ll find the right property that will net you cash flow!

@Russell Holmes

During the renovation process I completed all the required legal paperwork to convert the mobile home to “real property” that’s why I’m having such a hard time wrapping me head around the process. I forfeited the title so now it’s just the actual title of the home.

Thanks for the information. I’m going to call the title company tomorrow and try and get specifics.

Erik

Hello I recently completed a flip deal on a manufactured home (first ever) and I am currently in the closing process and the lender is requesting a foundation certification prior to funding on the property.  Has anyone ever had to deal with this?  I am in Nevada im not sure if that makes any difference?  This home has been a complete headache and even in the final chapter I get hit with this!

Any help would be greatly appreciated!

Well, these are very hard to evaluate the true value in all honesty.  If There are zero comps on mobile homes you simply have to look at the land value. There is a neighborhood by me where they vary from 50k-250k depending on a multitude of factors. Im currently doing my first modular flip and it has me stressed out constantly.  The market can be good to me, or I can get burned. Id stay away unless you honestly had some sort of comp in the area.

@John Teachout

Nope. Sorry just a boring post about a guy looking for cement dudes

Any investors in the Las Vegas/Henderson area have any recommendations for a good concrete guy/s looking to get a driveway poured at a decent price!

Thanks in advance! :)

@Joseph Rodriguez I tried to do what you said but there is no way around creating an account.  Upon creation, they ask for an invitation code, which you can only get after an interview.  Is there another way?

@Edward Brewington

Sorry Edward, but it’s definitely not unheard of. One time I had a tenant tell me the water was overflowing all over the condo and he didn’t know what was happening. Long story short, I sent a plumber out there for $175 and the plumber pulled a full sized, uneaten apple out of the garbage disposal.

Renters will not always be keen to solving their own problems, even when it’s something as simple as a pilot light.